The Company ended the half year with net assets of £1,650,000 (2012 £382,000), of which £1,598,000 comprised of cash at bank. Payments associated with the co-development of CHK1 were delayed while the co-investment agreement was novated into a formal Partnership. This creates a more efficient structure and does not affect the commercial benefits of the co-development programme. Sareum still expects to commit up to £800,000 to the CHK1 programme in the current financial year to 30 June 2014 and this sum has been accrued as an investment in the unaudited financial statements for the half-year. The accounting treatment of the payments may be re-validated in the audited financial statements for the full year.
Hi Steve. Am i being stupid? Whats the £800k being deposited for? I just read through a years worth of RNS's and cant find anything? Also it states we are funded until early next year. We have just gone past the 6 month period and i cant see how they can spend £1.6m from here until then. Makes me wonder exactly where that money is going. Im getting a bit itchy for some news now. Tim really meeds to show us he is doing lots with that amount of money raised. So far this year i cant see how they have actually spent that much. Sorry if this seems really stupid. Just trying to get my head round this company. Still 4 years on. :/
I would expect an update over the next few weeks in regards to confirming the £800k has been deposited and a update on the programs before year end. Should begin to receive some really positive news over the next 6 months and today's price will be a thing of the past. 10p party is still on but due to my holding would accept a 5p! Gla
Radius Health Inc., a Cambridge, Mass.-based developer of drug therapies for osteoporosis and women's health, raised $52 million in its IPO. The company priced 6.5 million shares at $8 per share (its downwardly-revised terms), and will trade on the Nasdaq under ticker symbol RDUS. Jefferies and Cowan & Co. served as lead underwriters. Radius Health has raised over $200 million in VC funding from MPM Capital (28% pre-IPO stake), The Wellcome Trust (7.9%), HealthCare Ventures (6.3%), BB Biotech Ventures (6.6%), Saints Capital (5.2%), Nordic Bioscience (12.7%) and Brookside Capital Partners (5.9%). www.radiuspharm.com
Syndax Pharmaceuticals Inc., a Waltham, Mass.-based developer of epigenetic therapies for treatment-resistant cancers, has set its IPO terms to 4.3 million shares being offered at between $13 and $15 per share. It would have an initial market cap of around $171 million, were it to price in the middle of its range. The pre-revenue company plans to trade on the Nasdaq under ticker symbol SNDX, with Deutsche Bank Securities and Jefferies serving as lead underwriters. Shareholders include Domain Associates (34.3% pre-IPO stake), MPM Capital (29.5%), Forward Ventures (8.2%), RusnanoMedInvest (13.2%) and Forward Ventures (8.2%). www.syndax.com
Zafgen Inc., a Cambridge, Mass.-based biopharma company focused on the needs of severely obese patients, has set its IPO terms to five million shares being offered at between $14 and $16 per share. It would have an initial market cap of around $312 million, were it to price in the middle of its range. The pre-revenue company plans to trade on the Nasdaq under ticker symbol ZFGN, with Leerink Partners and Cowen & Co. serving as lead underwriters. Shareholders include Atlas Venture (35.6% pre-IPO stake), Third Rock Ventures (35.4%), Alta Partners (7.4%) and Fidelity Investments (6%). Zafgen also announced the receipt of a $20 million term loan from Oxford Finance and MidCap Financial. www.zafgen.com
ZS Pharma Inc., a Fort Worth, Texas-based developer of treatments for kidney and liver disease, has set its IPO terms to five million shares being offered at between $15 and $17 per share. It would have an initial market cap of around $300 million, were it to price in the middle of its range. The pre-revenue company plans to trade on the Nasdaq under ticker symbol ZSPH, with J.P. Morgan and Credit Suisse serving as lead underwriters. It has raised over $55 million in VC funding from such firms as Alta Partners (22.9% pre-IPO stake), Devon Park Bioventures (17.94%), 3x5 Special Opportunity Partners (16.55%), Salem Partners (12.96%) and RiverVest Venture Partners. www.zspharma.com
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.